Hawaii Revised Statutes 412:10-204 – Sale or purchase of assets
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Terms Used In Hawaii Revised Statutes 412:10-204
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A credit union may sell all or part of its assets to another credit union, purchase all or part of the assets of another credit union and assume the liabilities of the selling credit union and those of its members.